The latest monthly revenue report from the Virginia Lottery has revealed that local sportsbooks accepted just over $513.1 million in wagers throughout the month of January.
The latest figures mark an increase of 2% on the $503 million reported during the previous month and a 5.7% increase year-on-year.
Virginia gamblers won a total of $463.4 million resulting in a combined operators’ win percentage of 9.69%, down slightly from the previous month. This brings the total won by gamblers to just over $7 billion since since the launch of sports betting in Virginia in January 2021.
Bonuses and promotions for the month totaled $768,221 while other deductions came to just over $6.7 million. This resulted in combined adjusted gross revenue (AGR) of $41.8 million, a 11% drop on the $47 million reported in the previous month.
Of the 16 approved Virginia sports betting operators, ten reported a positive AGR for the month of January. This resulted in state taxes of $6.4 million, a drop of 8.5% from the previous month.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.